![]() Subsequent to the quarter end, the Company made one additional investment on May 3, 2023.Īt quarter end March 31, 2023, there were no loans on non-accrual status.Īt March 31, 2023, the Company had $32.5 million in available liquidity, comprising $32.5 million in cash equivalents. Total net assets as of Mawere $88.8 million, compared to $86.5 million as of December 31, 2022.Īs of March 31, 2023, Silver Spike’s investment portfolio had an aggregate fair value of approximately $55.6 million, comprising $45.7 million in secured loans in three portfolio companies and $9.9 million in secured notes in three portfolio companies.ĭuring the quarter ended March 31, 2023, the Company made one investment. The increase in NAV per share was primarily driven by the results from operations. The Company generated a net increase in net assets from operations of $2.4 million, or $0.38 per share.Īs of March 31, 2023, NAV per share increased to $14.29, compared to $13.91 as of December 31, 2022. Silver Spike recorded a net unrealized gain of $1.0 million during the quarter ended March 31, 2023, primarily related to the fair valuation of our debt investments. This compares to total expenses of $1.1 million, resulting in net investment income of approximately $1.4 million, or $0.22 per share. Silver Spike is managed by Silver Spike Capital, LLC, an investment manager focused on the cannabis and alternative health and wellness industries.įor the three months ended March 31, 2023, total investment income was $2.5 million. On February 8, 2022, Silver Spike completed its initial public offering. is a closed-end, non-diversified management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended, and has elected to be treated as a regulated investment company for U.S. The presentation to be used in connection with the conference call and webcast will be available at .Ī replay of the call will be available at by end of day May 12, 2023. A live webcast of the call will also be available on the Company’s website at. Participants may register for the call here. Silver Spike will host a conference call and webcast to discuss the Company's first quarter 2023 financial results at 8:00 a.m. Earlier this month, we led and participated in the $35 million initial close of a senior secured credit facility for DreamFields Brands Inc., a leading multi-state cannabis operator, and one of the fastest growing companies in the cannabis industry, through its Jeeter brand. Scott Gordon, Chairman and Chief Executive Officer of Silver Spike, commented “ As the cannabis industry continues to move through a challenging phase, we remain focused on methodically underwriting new loans to premier operators and brands in the industry. Lending to cannabis companies is as limited as we have seen in recent years, which puts us in a unique position to continue capturing attractive risk adjusted returns for our investors. Net asset value (“NAV”) per share increased to $14.29 on Mafrom $13.91 on December 31, 2022.Investment portfolio of $55.6 million at fair value. ![]() Net investment income of $1.4 million, or $0.22 per share.Total investment income of $2.5 million.NEW YORK, (GLOBE NEWSWIRE) - Silver Spike Investment Corp. (“Silver Spike” or the “Company”), a specialty finance company that was formed to invest across the cannabis ecosystem through investments primarily in the form of direct loans to privately held cannabis companies, today announced its financial results for the quarter ended March 31, 2023.
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